China's ZTE wins $378m deal in South Africa

China’s ZTE said it won a contract worth $378 million to supply telecoms equipment and services to South African mobile operator Cell C (Pty) Ltd.

In its latest overseas deal, ZTE will provide GSM systems and services to Cell C, ZTE said in a statement released late on Tuesday.

ZTE and hometown rival Huawei Technologies have been two of China’s biggest success stories in their efforts to expand abroad, selling their telecoms equipment to a wide range of operators in both developing and developed markets.

ZTE’s revenue is expected to jump 38 percent in 2009 to 61 billion yuan, while profit is expected to rise 45 percent to 2.41 billion yuan, with much of the growth coming from a surge in exports.

Source: Reuters